Teck Resources Limited (NYSE:TECK) Stock Holdings Cut by Caxton Associates LP

Caxton Associates LP lowered its position in Teck Resources Limited (NYSE:TECK) (TSE:TECK) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 991,507 shares of the basic materials company’s stock after selling 189,695 shares during the period. Teck Resources comprises about 1.6% of Caxton Associates LP’s portfolio, making the stock its 10th largest position. Caxton Associates LP owned about 0.19% of Teck Resources worth $47,493,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TECK. Point72 Europe London LLP purchased a new stake in shares of Teck Resources during the 2nd quarter valued at $1,514,000. Point72 Hong Kong Ltd bought a new stake in Teck Resources in the second quarter worth about $5,169,000. Toronto Dominion Bank boosted its stake in Teck Resources by 128.4% in the second quarter. Toronto Dominion Bank now owns 644,677 shares of the basic materials company’s stock valued at $30,880,000 after acquiring an additional 362,427 shares during the last quarter. Insigneo Advisory Services LLC purchased a new position in Teck Resources in the second quarter valued at about $240,000. Finally, Sagefield Capital LP grew its position in shares of Teck Resources by 269.4% during the 2nd quarter. Sagefield Capital LP now owns 245,451 shares of the basic materials company’s stock valued at $11,757,000 after acquiring an additional 178,999 shares during the period. 78.06% of the stock is owned by institutional investors.

Teck Resources Stock Performance

NYSE TECK opened at $51.01 on Wednesday. The company’s 50 day simple moving average is $46.86 and its two-hundred day simple moving average is $47.87. The stock has a market capitalization of $26.10 billion, a PE ratio of 22.57 and a beta of 1.01. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.77. Teck Resources Limited has a 1 year low of $34.38 and a 1 year high of $55.13.

Teck Resources (NYSE:TECK) (TSE:TECK) last issued its quarterly earnings data on Wednesday, July 24th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.32. Teck Resources had a return on equity of 6.52% and a net margin of 9.40%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the business posted $0.91 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Analysts predict that Teck Resources Limited will post 1.98 earnings per share for the current fiscal year.

Teck Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.625 per share. This is a positive change from Teck Resources’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.50 annualized dividend and a dividend yield of 4.90%. Teck Resources’s payout ratio is presently 16.37%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TECK. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Teck Resources in a report on Thursday, July 25th. TD Securities raised shares of Teck Resources to a “strong-buy” rating in a report on Tuesday, July 16th. StockNews.com downgraded shares of Teck Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. CIBC upped their price target on shares of Teck Resources from $70.00 to $80.00 and gave the company an “outperformer” rating in a research note on Friday, July 12th. Finally, Paradigm Capital raised shares of Teck Resources to a “moderate buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

About Teck Resources

Teck Resources Limited engages in exploring for, acquiring, developing, and producing natural resources in Asia, Europe, and North America. The company operates through Steelmaking Coal, Copper, Zinc, and Energy segments. Its principal products include copper, zinc, steelmaking coal, and blended bitumen.